Thursday trading: Tadawul declines marginally, Al-Samaani rises

RIYADH: Shareholders of Al Gassim Investment Holding Co. (GACO) are set to vote on withholding dividends for the fiscal year 2019 during an extraordinary general assembly meeting scheduled for Dec. 30, the Saudi Stock Exchange (Tadawul) announced on Thursday.

The food and beverages company said in a bourse filing that shareholders would also vote on whether to change the firm’s core objectives and allow it to provide “loans, guarantees, and funds to GACO subsidiaries.”

In addition, they will discuss company affairs, including allowing the business to participate in other firms in a way “that enables it to control it through ownership or management” and it may also “establish companies on its own (with limited liability or closed joint stock),” the statement added.

It also revealed that the Dec. 30 meeting would debate amending articles related to remunerations for the board of directors and the powers of the chairman, deputy chairman, and the secretary.

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Written by Chekmagazine


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